Treasury Wine Estates Ltd (FRA:T7W)
€ 6.744 -0.04 (-0.59%) Market Cap: 5.55 Bil Enterprise Value: 6.58 Bil PE Ratio: 91.59 PB Ratio: 2.04 GF Score: 75/100
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Treasury Wine Estates Ltd to Implement Provisional Measures on Wine Imports to China Update Call Transcript

Nov 29, 2020 / 10:00PM GMT
Timothy Ford
Treasury Wine Estates Limited - CEO, MD & Director

Good morning, everybody, and thanks for joining today's call. I've got with me today Matt Young, our CFO, also.

So last Friday, the Chinese Ministry of Commerce announced provisional measures as part of their continuing anti-dumping investigation into Australian wine sold-in containers of 2 liters or less.

These provisional measures required a deposit at a rate of 169.3% be applied to the important value of Treasury Wine Estates portfolio entering China. Under China's antidumping regulations, these provisional measures are expected to remain in place for up to 4 months from their date of announcement. However, I do note that under special circumstances, this period may be further extended to 9 months, so an incremental 5.

As stated in our announcement we released earlier this morning, at the level of these provisional measures that have been announced by MOFCOM, we do expect that future demand for TWE's portfolio in China will be extremely limited.

Therefore, we are immediately implementing our

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